25 October 2013 17:59 [Source: ICIS news]
LONDON (ICIS)--While it is too early for firm price targets, participants in the European butyl acetate (butac) market are currently expecting November prices to roll over or soften, sources said on Friday.
“We're happy with where we are,” one producer said. “We’ll tailor our output for the [butac production] unit. I think we'll roll over [prices] into November.”
“[Producers will] target a rollover,” a distributor said.
However, some participants expect November butac prices to soften because of an expected decrease in the November feedstock propylene contract price (CP).
A Russian producer said: “I think prices will stabilise now. [Customers] think it might go down because of propylene [expectations of the November CP decreasing], but [a butac price decrease] is what customers want. But what I've seen is higher levels. I think prices will stabilise as they are in mid to late November, or maybe go down €20-30/tonne [$28-42/tonne].”
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